Is 37122, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 37122 is a seller's market

Buyer's
Market

Difference Since December 2023

Since last year, 37122 has remained a Seller's Market.

Key Takeaway

37122 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 37122, TN

How much do homes in 37122, TN cost?

Median Sold Price

$571,166

$238/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$27,720(+5.1%)

Key Takeaway

Homes in 37122 have sold for 5.1% more than they did a year ago.

Summary: The median home sold price in 37122 was $571,166 in December 2024, up 5.1% from last year, and the median price per square foot was $238.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 -$279.9K
N/A
2 $394.5K$410K
+3.9%
3 $457.8K$487.4K
+6.4%
4 $594.4K$619.9K
+4.3%
5+ $686.5K$703.4K
+2.4%

Summary: 37122 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.9%, 3 bedroom homes increased by 6.4%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes increased by 2.4%.

Median Sold Price Compared To Nearby Zip Codes

37138
+9.4%
37076
+5.2%
37122
+5.1%
37086
-0.6%
37090
-13.6%

Housing Supply in 37122, TN

How many homes are available in 37122, TN?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
317336+6.0%

Summary: The 37122 real estate market had 336 homes for sale in December 2024, a 6.0% increase compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 11
0.0%
2 2224
+9.1%
3 140146
+4.3%
4 121121
0.0%
5+ 3344
+33.3%

Summary: The 37122 housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 4.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
5871+22.4%

Asking Price vs. Sold Price

38 Homes Were Sold
Under Asking

24 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 37122, you may be able to get a good deal. 54.3% of homes here sold below asking price last month.

Summary: A total of 71 homes were sold or pending in 37122 in December 2024, up by 22.4% month-over-month. Of the 70 sold homes, 54% were sold under asking, 34% were sold at asking, and 11% were sold over asking.

Days on Market for 37122, TN

How long does it take to sell a home in 37122, TN?

Average Sale Time

Dec 2023Dec 2024CHANGE
24 Days26 Days+7.1%

Summary: Homes in 37122 had an average of 26 days on market in Dec 2024, up by 7.1% compared to last year.

Breakdown of Home Sale Times

46 Homes Were Sold
Under 30 Days

21 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 37122 are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 71 homes were sold in 37122; 65% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 2 Days Ago

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